Sheets Smith Wealth Management Acquires New Holdings in Nutanix (NASDAQ:NTNX)

Sheets Smith Wealth Management purchased a new stake in Nutanix (NASDAQ:NTNX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,980 shares of the technology company's stock, valued at approximately $417,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Larson Financial Group LLC boosted its holdings in shares of Nutanix by 28.6% in the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock valued at $40,000 after buying an additional 146 shares during the period. True Wealth Design LLC boosted its holdings in Nutanix by 13.2% during the fourth quarter. True Wealth Design LLC now owns 1,249 shares of the technology company's stock worth $76,000 after purchasing an additional 146 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in Nutanix by 0.5% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company's stock worth $2,134,000 after purchasing an additional 159 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Nutanix by 3.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock worth $349,000 after purchasing an additional 188 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NTNX. Susquehanna increased their target price on shares of Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Thursday, May 29th. Wall Street Zen upgraded shares of Nutanix from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 22nd. Morgan Stanley restated an "overweight" rating and set a $90.00 target price (up previously from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Piper Sandler restated an "overweight" rating and set a $88.00 target price (up previously from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $92.00 target price on shares of Nutanix in a report on Thursday, May 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $90.71.

Nutanix Stock Up 0.0%

Shares of NTNX traded up $0.01 during trading hours on Friday, hitting $75.29. The company had a trading volume of 2,936,168 shares, compared to its average volume of 2,533,176. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 153.65, a PEG ratio of 6.84 and a beta of 0.69. The business has a fifty day moving average of $74.47 and a 200-day moving average of $69.70. Nutanix has a 12 month low of $43.35 and a 12 month high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $638.98 million for the quarter, compared to analyst estimates of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The company's revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, equities analysts expect that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, CFO Rukmini Sivaraman sold 2,100 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $72.73, for a total value of $152,733.00. Following the transaction, the chief financial officer now directly owns 209,070 shares in the company, valued at approximately $15,205,661.10. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 61,057 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the transaction, the chief executive officer now owns 497,309 shares in the company, valued at $39,287,411. This trade represents a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,552,549 shares of company stock valued at $426,621,281 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.